1. Dependence on a single commodity: Fresnillo plc is primarily focused on silver mining, which makes it vulnerable to fluctuations in silver prices. This dependence on a single commodity can limit the company's ability to diversify its revenue streams and expose it to greater risks.

2. Limited geographical diversification: While Fresnillo plc has mining operations in Mexico, it has limited geographical diversification compared to some of its peers. This lack of diversification can make the company more susceptible to country-specific risks, such as changes in government policies or regulatory frameworks.

3. Environmental and social concerns: Mining operations often have significant environmental and social impacts. Fresnillo plc has faced criticism and legal challenges related to its environmental practices and community relations. These concerns can negatively impact the company's reputation and may lead to increased regulatory scrutiny or community opposition.

4. High production costs: Fresnillo plc has relatively high production costs compared to some of its peers. This can affect the company's profitability and competitiveness, especially during periods of low commodity prices or increased operating expenses.

5. Limited exploration and development pipeline: The company's exploration and development pipeline may be relatively limited compared to its peers. This can hinder its ability to discover and develop new mineral reserves, which are crucial for long-term growth and sustainability in the mining industry.

6. Exposure to geopolitical risks: Operating in Mexico, Fresnillo plc is exposed to geopolitical risks such as political instability, security concerns, and changes in government policies. These risks can impact the company's operations, supply chain, and overall business performance.